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Superior Resources Ltd.
Summary
| Project: | Greenvale | |
|---|---|---|
| Deposit: | Steam Engine | |
| Location: | Australia | |
| Commodities: | Gold | |
| Date: | 10/19/2017 | |
| Report Code: | JORC | |
| Report Type: | Resource Estimation | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 19-10-2017: Superior Resources Ltd. announces a Resource Estimation report for its Steam Engine deposit at the Greenvale project. Initial JORC(2012) mineral resource estimate for Steam Engine Deposit. Superior Resources Limited (ASX Code: SPQ) (Superior o | |
| Resources: | (Resource, Inf.): 1.05Mt @ 2.53g/t Au for 85Koz Au contained at project | |
| CP/QP: | [Resources]: Ken Harvey (Internal) | |
| ABSTRACT: | Superior Resources Limited (ASX Code: SPQ) (Superior or Company) is pleased to announce a maiden inferred mineral resource estimate (MRE) for the Steam Engine Gold Deposit. The Steam Engine Gold Deposit is located amongst several copper-zinc-gold polymetallic prospects all held 100% by the Company within the Greenvale Project (Figure 1). The MRE (Table 1) was developed by the Company and is based on two recently drilled reversecirculation (RC) holes together with historic RC and diamond drill hole data generated by Noranda Australia and Beacon Minerals. Total RC and diamond drilling on or close to the Steam Engine Lode amounts to 64 drill holes for 5062.9m of drilling. Managing Director, Peter Hwang commented: “This is an excellent start to our exploration efforts at the Steam Engine Gold Deposit. The Mineral Resource is based only on the central drilled portion of the main Steam Engine Lode down to a depth of 150m and 400m along strike. Not only is there potential to increase the resources at the Steam Engine Lode along strike and at depth, but the MRE does not take into account the currently identified and approximate two kilometres of gold-bearing lodes at the Eastern Ridge Lode and Southern Zone Lodes. The maiden mineral resource is further confirmation of the value potential of the 100%-owned Greenvale Project, which includes other recently reported polymetallic deposits such as Bottletree located 5 kilometres to the south and Galah Dam, 20 kilometres to the north east. The project also benefits from being located 500 metres from the main sealed highway which leads directly to the established gold mining district of Charters Towers and the Pajingo Gold Mine, 225 and 295 kilometres away, respectively.” | |
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